LightPath opens second high volume manufacturing facility in China

ORLANDO, USA: LightPath Technologies Inc., a global manufacturer, distributor and integrator of proprietary optical components and high-level assemblies, announced the formation of a new wholly-owned subsidiary, LightPath Optical Instrumentation (Zhenjiang) Co., Ltd, located in Zhenjiang, which is in the Jiangsu province of China.

LOIZ is LightPath's second operating entity in China. The Company currently occupies a 22,000 square foot facility in Orlando, Florida. LightPath Optical Instrumentation (Shanghai) Co., Ltd. occupies a 17,000 square foot facility in Shanghai, China. LOIZ will occupy a 26,000 square foot facility in Zhenjiang, China. LOIZ's facility will triple the Company's combined global lens production capacity.

LightPath CEO, Jim Gaynor said: "Demand for our aspheric lenses has accelerated in both our North American and Asian sales regions. The Company's lens unit volume production increased by approximately 50 percent in fiscal 2013 as compared to fiscal 2012. Our backlog as of September 30, 2013 had grown to $4.42 million.

"A primary catalyst driving this increased demand is the company's proprietary technology and manufacturing processes, which have lowered the cost of lenses we provide to our customers. As a result, there has been a paradigm shift in demand creation among end users in markets such as laser tools, telecommunications, digital projectors, industrial equipment and medical instruments."